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I am going to put my opinions aside and just comment on possible price action scenarios.
Well ok, maybe a little opinion – Firstly, I do not think Bitcoin was created by the people for the people, or some man called Suzuki Yamaha Mitsubishi or a name to that effect – who is claimed to be this phantom mysterious figure unbeknown to us mere mortals. I think Bitcoin was created (or hijacked a few years ago) by the same people who created our fiat currencies to make us think we have an alternative and stop looking for one. Soon they will be taxing any money in cryptos (they will find a way) and by listing it in the futures in USA will now control the price. They will even make billions by giving you a wonderful price action and taking you out at any given opportunity. If it was indeed by the people for the people – then it no longer is – which makes the whole exercise a bit pointless. They will control whatever it is people did not want controlled eventually – matter of time.
Do I still think it is a Ponzi scheme ? – yup absolutely ! but so is the dollar , Euro or the Sterling for that matter.
On the price action
I think the price will attempt a move towards 14k, unless it is rudely interrupted by some big news.
If it manages to cross and stay above 14k for a few days then I feel it can go back up to 20k and plus.
On the downside if it fails over and over again to reach 14k or even from where it is at present drops to under 10k then I feel we are heading the opposite direction with next target at 7,000 . In short, I think right now, there is more chance of an attempt to the upside than the down side.
On another note ……..
You can download my iSigma trading strategy which I believe is the best trading strategy created to date in the world – I challenge any course producer to say otherwise. Will be prepared to go head to head in a public trading competition to prove it. I feel I’ve cracked the code ! e.g. Ideal for volatile markets like cryptos and currencies .
You can download The Intuitive Sigma Course from www.intuitivetradinginstitute.com – It is a video course and we provide great support and answer any questions before or after purchasing the course. You’ll be impressed with the level of service and professionalism.
I have also started a mentoring section – you can apply for a 20min FREE chat on the phone regarding the course and else – can email from the website .
There is no hard sell of any kind going on here or will be attempted – not my style.
All in my humble opinion and no financial advice intended.
Andre Minassian
CEO – Intuitive Trading Institute
www.intuitivetradinginstitute.com
I agree, I know the markets are controlled. I’ve traded and watched the markets for 17 years and from what I’ve witness I know they are controlled. I don’t pay attention to the news of any sorts, Trump was not elected, he was placed to divert people’s attention and it is working well. When I first learned how to trade, I had mentors. They told me I was going to go through 3 emotional phases when I start to learn about what goes on behind the curtain. The first phase was one of shock and disbelief. How could this be happening and how can they fool so many people, including me. The second phase was one of anger. How dare they do this to people. The last phase was one of relief. Meaning, this is so big that all I can do is learn a trading system and stick to it while ignoring the chatter. Basically, being an observer and taking advantage of market movements. I trade primarily the ES and wherever it goes I follow it. I don’t fight the trend, been there, done that.
Tony
I think this is what caused the shorts… not my summary but feels right…
Bitcoin (BTC)
Now consolidating for over a month, bitcoin is out of the limelight. However,
behind the scenes, advancements toward scaling bitcoin continue. (We first
wrote about them in May.) One scaling solution is SegWit. Today, over 12% of
bitcoin transactions are SegWit. We expect that to accelerate as Coinbase
announced it would be implementing SegWit in the near future. This will help
alleviate the congestion you’ve likely experienced in the network.
The other is the Lightning Network, which should be adopted some time this
year. Lightning Network will drop transaction costs by 99% and enable instant
payments. We believe this will cause BTC to explode higher this year.
Action to Take: Buy bitcoin (BTC) up to $25,000.
Ether (ETH)
On January 4, we issued a profit sell alert on Ethereum (ETH).
Congratulations to those who took advantage of our original recommendation.
Let’s say you invested $1,000 at the time. If you followed our January 4
instructions, you’d have booked a $55,000 gain and still be sitting on a
position currently worth over $58,000.
Action to Take: Hold ether (ETH).
Monero (XMR)
As one of our original picks, we bought XMR in two lots in 2016 for an
average price of $8.45. XMR finished 2016 at $13.65, for a nice 62% gain.
2017 was even better as Monero advanced 2,457% to finish the year at
$349.03.
Congrats to everyone who jumped on Monero. 2018 is shaping up to be
another banner year. Developers are working on improvements to security,
privacy, and scalability.
On the marketing side, Monero plans to continue Project Coral Reef, which
has recruited over 50 mainstream artists, including Mariah Carey, to accept
Monero.
Action to Take: Hold Monero (XMR).
Steem Power (STEEM)
Steem broke out of an 18-month consolidation when it broke $4 in December.
It quickly reached $8 and has since settled in the $4–6 range. One thing
we’ve learned over the years is the bigger the base (i.e., the consolidation
period), the bigger the breakout. So, we’re holding on tight to Steem.
In January, Steem partnered with Datawallet. With Datawallet, you can create
a data profile of yourself, which you can then monetize by sharing it with
companies. It’s one step closer to taking back our data from the internet
giants.
Action to Take: We’re raising the buy-up-to price on Steem Power (STEEM)
to $3.50.
Lykke (LKK)
In 2018, Lykke aims to be the best fiat-enabled and regulated crypto
exchange. It also wants to be the first global marketplace to allow easy
trading of digitized assets. To that end, Lykke is working on Alpha Engine, an
automated trading model that will provide liquidity to the market.
Also in the works are cards and payment systems to bridge the crypto and fiat
world, adding LTC, ETC, BCH, and ERC20 tokens, and a web-based trading
platform.
Action to Take: Hold Lykke (LKK).
Peerplays (PPY)
Last month, we informed you that Peerplays was starting beta testing and its
sports betting decentralized application (dApp) called Bookie. In early
January, Peerplays announced a partnership with iGaming Creative Agency,
Vegas Kings, to build the website. It will go live in the first quarter of 2018 and
the Bookie dApp will be launched later in the year.
In other news, Peerplays also announced a partnership with eXeBlock
Technology. eXeBlock will develop four dApps for the Peerplays platform over
the next 24 months. There are now seven dApps being built for the Peerplays
blockchain, with more to come.
Action to Take: Hold Peerplays (PPY).
Neo (NEO)
NEO finished the year at $75.96. And those who bought at the time of our
original recommendation are enjoying a 60,426% gain.
It was a great year for NEO. It successfully rebranded (from Antshares),
updated its smart contract infrastructure, and developed the NEP-5 token
standard.
The NEP-5 standard is like the ERC20 standard for Ethereum tokens. A
standard token contract makes it easier to list tokens on exchanges. And that
makes it easier for the NEO platform to launch ICOs.
NEO now has over 25 projects preparing to launch ICOs on its platform in the
first quarter of 2018 alone. Continue to hold NEO.
Action to Take: Hold Neo (NEO).
Gas (GAS)
All of the projects coming to the NEO have one thing in common: They’re
going to need GAS to operate on the platform.
That’s why on January 5, we raised the buy-up-to price to $45.
Action to Take: Buy Gas (GAS) up to $45.
Factom (FCT)
Factom got a boost to start the year as security expert John McAfee made it
his “coin of the week.”
He noted Factom’s partnerships with the Bill Gates Foundation and U.S.
Department of Homeland Security. And he mentioned how Factom is one of
the only fully functional cryptocurrencies in existence today.
Thankfully, we told you about all that nine months ago, when Factom traded
at $4.20. McAfee’s tweet sent FCT briefly over $80, and it now trades around
$65.
This one is now above our buy-up-to price. Wait for a pullback before getting
in.
Action to Take: Buy Factom (FCT) up to $50.
Ethereum Classic (ETC)
Ethereum Classic finished the year by releasing its Daedalus wallet. Keep in
mind it’s new software, so use it for low-value transactions for now.
The work on Ethereum Classic will accelerate in 2018. Lead developer
Charles Hoskinson noted how over 2017, they grew the development team
and now have eight full-time developers. And it will continue to grow over
2018.
On tap for 2018 is achieving Ethereum Classic scalability through the use of
sidechains. (A sidechain is a separate blockchain attached to the parent
blockchain.) The team will also be working with third-party developers to build
apps on top of ETC. And the team plans to develop proof of concepts for how
ETC will be used for the Internet of Things.
Action to Take: Buy Ethereum Classic (ETC) up to $25.
Ripple (XRP)
Congratulations to those who followed our January 4 profit sell alert. We sold
50% of our Ripple position, locking in gains of 1,140.7%.
That means if you invested $1,000 in Ripple, you were just able to take out
over $5,700. Plus, you still have a stake worth over $3,000.
Action to Take: Hold Ripple (XRP).
Dash (DASH)
Dash continues its rapid global expansion. Last month, we filled you in on
Dash’s partnership with Uphold. That will enable 94% of the world’s
population to buy DASH. Plus, we informed you of Dash’s partnership with
KuvaCash, which seeks to bring DASH to Zimbabwe.
This month, Dash partnered with Spanish firm Bitnovo. It will enable DASH
usage in over 10,000 retailers throughout Spain. Latin American
cryptocurrency exchange BitInka also added Dash. Now citizens of Argentina,
Bolivia, Brazil, Chile, Colombia, Peru, and Venezuela will be able to purchase
DASH.
Action to Take: We’re raising the buy-up-to price on Dash (DASH) to $800.
OmiseGo (OMG)
The OmiseGo software development kit (SDK) recently went from alpha to
closed beta testing. This is crucial, as it’s one of the final steps before
releasing the SDK. Once released, developers will be able to incorporate the
OmiseGo wallet into their own programs.
Further, one of OmiseGo’s strategic partners, a large multinational company,
is now using the OmiseGo SDK to develop one of the first live use cases.
Expect more news in the first quarter of 2018.
Action to Take: We’re raising the buy-up-to price on OmiseGo (OMG) to $20.
ZenCash (ZEN)
When we originally bought ZEN, we put on just a half position due to its
volatility. The plan was to buy the second half on the first 50% pullback from
the high after we buy.
ZEN never did fall 50%. But with the positive developments we see in the
pipeline, we wanted to make sure everyone got a full position. So on
December 22, we put on the second half of our ZEN position. It’s now well
above our buy-up-to price, but continue to hold ZEN if you own it.
Action to Take: We’re raising the buy-up-to price on ZenCash (ZEN) to $40.
Storj (STORJ)
Storj recently released an upgraded billing platform, and it now accepts
STORJ as a form of payment for storage space. It’s part of Storj’s plan to
increase the utility of its token. Plus, for a limited time, those who pay in
STORJ will receive discounted pricing.
The company also announced a bounty program that covers everything from
development to marketing. The way it works, individuals can earn STORJ for
completing specific tasks. Storj is looking to improve its Libstorj library,
provide more translations, do marketing videos, and more. Expect to see
more of Storj in the news cycle in 2018.
Action to Take: Buy Storj (STORJ) up to $1.
The article sums up pretty well Bitcoin. Probably the listing of Bitcoin
on CME exchange was a very smart move and maybe confused many people at the same time especially after the drop. We should also keep in mind CME also listed weather futures contracts or environmental emissions futures that are gone nowadays.
I always enjoy your articles. Thank you for sharing your thoughts.
@Tony Rivera, well said.